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Debtconsolidationcare.com - the USA consumer forum

Debt Collection Question

Date: Fri, 01/23/2009 - 12:29

Submitted by anonymous
on Fri, 01/23/2009 - 12:29

Posts: 202330 Credits: [Donate]

Total Replies: 21


2008 was a bad year for me, and I know for alot. I was behind on alot of things. 1 thing was a Credit Card that I wasn't even able to pay a min payment to. My wife finaly graduated school and is now working. We got all caught up, except for this credit card. Before we hit problems, Balance was $4,800.00, now that balance is $6,000.00. Since I haven't been able to pay on the card, it was turned over to a collection. I answered the phone the other day for the collection agent and they offered me a settlement of $3,000. Then that would se my balance to $0. But they want my Checking account # and stuff. I'm 25 years old, and I don't know much about this stuff. It just doesn't feel right to give someone my checking acardcount # to pull 3k out. Like I said before we have money now to pay on this account, but not all at once. Should I contact the Credit card company and work something out? or Settle?


was that the first time you heard from this CA?if so next time they call inform them that they have 5 days to send details in writing.never give your bank info to a CA.if they are legit they should be able to take any form of payment.


lrhall41

Submitted by paulmergel on Fri, 01/23/2009 - 12:44

( Posts: 15514 | Credits: )


Yes it was. They faxed me a settlement with the date and amout. But I said, ok can i send you a certifed check, the guy got all mad, and was like i need your checking account # so we can hold this agreement. I rather just pay the Credit Card Company. I heard if you settle, you have to pay Taxes on the Debt you didnt pay. Plus the bad report on your credit as settled.


lrhall41

Submitted by on Fri, 01/23/2009 - 12:50

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well the settlement will appear as such either way,but i wouldn't agree to pay that CA.if there is an address on the fax i would send a DV letter.send it certified mail return receipt.i would also contact the CC company and find out the story about this.they may if they hired them to pull it back.if they charged it off then the CC company is out of the picture.again though never give this CA your bank info.send the DV letter.


lrhall41

Submitted by paulmergel on Fri, 01/23/2009 - 13:00

( Posts: 15514 | Credits: )


DV=debt validation.with so many JDB'S (junk debt buyers)validation is important.it basically is forcing the CA that.

they have license to collect on this.
they are in fact the ones who should be collecting the debt.
how they came up with the dollar amount of the debt.

validation has been debated on the forums,but those points should be documented by the CA before they attempt any further collections.what is the name of this CA?


lrhall41

Submitted by paulmergel on Fri, 01/23/2009 - 13:12

( Posts: 15514 | Credits: )


no original creditor?LVNV is a bottomfeeder deluxe.if there is an address i would send the letter,along with a C&D(cease&desist)letter.basically your telling this CA that your disputing the debt and wish to be contacted by us mail only.get the letters out asap.certified mail return receipt.


lrhall41

Submitted by paulmergel on Fri, 01/23/2009 - 13:29

( Posts: 15514 | Credits: )


if LVNV is listed they bought the debt from sears.i doubt that sears will work with you,but you can still try.i would be prepared to send out the letters.


lrhall41

Submitted by paulmergel on Fri, 01/23/2009 - 13:38

( Posts: 15514 | Credits: )


A word of caution about LVNV--document everything! If it is legal in your state, record your conversations, if not, make notes of days, time, what was said,etc.

I started dealing with them about the time I came to the Forums, about 3 years ago. If you send them a debt validation letter, send it to Sherman Acquisitions,et all. There are some good sample letters here on the site, to the right of the screen. Also some members here have some good ones in their signature line.

LVNV has never validated one of my letters, instead, passed it around to their many other companies. When this happens, I send a copy of the first letter, along wit a new dv, and so on. They are well know for breaking fdcpa regulations, at least with me, so be careful with them.

Also, never give your account info out. If you do decide you want to work with them, be sure and get it in writing. They offered me a settlement a few years back, and then a few weeks later, said "what settlement" Also, be sure that in their letter, if they send this is writing and you decide to settle, that they will consider this paid in full, with no balance remaining that can be colleced on later..Good Luck to you!..karen


lrhall41

Submitted by Bossy4455 on Sun, 01/25/2009 - 08:44

( Posts: 5854 | Credits: )


I got the settlement in writing, this is what it saids at the bottom. After the Dates they want a check..

Provided all checks presented for payment clear the appropriate bank, your account balance will be settled.


Do i need to get the settlement Wrote diffrently?


lrhall41

Submitted by on Mon, 01/26/2009 - 05:19

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yes,with that wording they can and will still collect on it,or at least sell the remainder of the debt.you need to get that part in writing as well.also as SMO said pay with money orders only.checks have your info on them as well.i don't trust this place and neither should you.


lrhall41

Submitted by paulmergel on Mon, 01/26/2009 - 05:26

( Posts: 15514 | Credits: )


gah, this is a pain in the butt. I'm at the point now i can pay this bill, but now i'm scared to pay it. I wish i could just pay the Credit Card Company. Its like, i can send a Money Order to pay them, and they can just turn around and say we never got it. Then that money is gone. So risky to pay a collector.


lrhall41

Submitted by on Mon, 01/26/2009 - 06:34

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actually if they cash it you can get that info from the place that issued the money order.it is as easy to track as western union or moneygram.you can also stop payment on it.that's not the case with the other two.it's just if you send them a check they have your bank info and i don't trust this place with that.


lrhall41

Submitted by paulmergel on Mon, 01/26/2009 - 06:38

( Posts: 15514 | Credits: )


No need since you already have one...
you can collection a call and settle the account if they have their # written down in the letter...
It also ok to give them check by phone payment because if you send money orders or certified check, it may post late and may void the settlement...
and then maybe after 30 days when payment is taken out, you will receive letter fr creditor that settlement is ok


lrhall41

Submitted by on Tue, 02/10/2009 - 02:58

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